First Citizens Bank & Trust Co. Boosts Stock Position in iShares Fallen Angels USD Bond ETF (NASDAQ:FALN)

First Citizens Bank & Trust Co. increased its stake in shares of iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) by 39.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,795 shares of the company’s stock after purchasing an additional 21,003 shares during the quarter. First Citizens Bank & Trust Co. owned approximately 0.10% of iShares Fallen Angels USD Bond ETF worth $1,971,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of iShares Fallen Angels USD Bond ETF during the 2nd quarter worth about $49,000. Wilmington Savings Fund Society FSB acquired a new position in shares of iShares Fallen Angels USD Bond ETF in the 3rd quarter valued at approximately $55,000. Outlook Wealth Advisors LLC acquired a new position in shares of iShares Fallen Angels USD Bond ETF in the 3rd quarter valued at approximately $203,000. Saxony Capital Management LLC acquired a new stake in shares of iShares Fallen Angels USD Bond ETF during the 3rd quarter valued at approximately $208,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in shares of iShares Fallen Angels USD Bond ETF during the 4th quarter valued at approximately $204,000.

iShares Fallen Angels USD Bond ETF Stock Performance

Shares of FALN opened at $27.10 on Monday. The stock has a fifty day moving average price of $26.96 and a 200 day moving average price of $26.97. iShares Fallen Angels USD Bond ETF has a 12 month low of $25.90 and a 12 month high of $27.43.

iShares Fallen Angels USD Bond ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, December 18th were paid a $0.1371 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.64 annualized dividend and a dividend yield of 6.07%.

iShares Fallen Angels USD Bond ETF Profile

The iShares Fallen Angels USD Bond ETF (FALN) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market value weighted index of bonds that were rated investment grade at issuance, but later downgraded to sub-investment grade. FALN was launched on Jun 14, 2016 and is managed by BlackRock.